MG Icon Announces the Launch of Truth or Dare by Madonna

NEW YORK, Nov. 3, 2011 /PRNewswire/ -- MG Icon, the joint venture among Iconix Brand Group (NASDAQ: ICON), Madonna and Guy Oseary announced today the launch of Truth or Dare by Madonna, the second brand to launch under the MG Icon venture. Truth or Dare by Madonna will be a global lifestyle brand. The brand will initially launch with footwear, handbags, intimates, accessories and fragrance. MG Icon will exclusively partner with Macy's for the initial launch in 2012 while launching simultaneously worldwide. In 2013, the brand will be widely distributed at leading department stores in the United States.

Madonna stated, "Over the past several years, I have been approached countless times to create my own brand. The timing is right and I have found great partners in Iconix who can help translate my vision to reality."

"The interest and excitement globally for brands developed by Madonna are significant," stated Neil Cole, CEO, Iconix Brand Group, Inc. "After the highly successful launch of the junior brand, Material Girl, we knew there would be a tremendous demand for a brand that Madonna herself is the face of and that truly captures her essence."

The Truth or Dare by Madonna brand is aimed at Madonna's core demo, women ages 27-50 who have a timeless style and an innate sex appeal. Truth or Dare by Madonna was created to showcase the dichotomy that is Madonna, both powerful icon and feminine beauty.

MG Icon's, Material Girl brand, is exclusively available at Macy's in the United States and at The Bay in Canada. Since the brands inception in 2010, the brand has been rolled out to over 400 Macy's doors, 90 doors in The Bay and expanded its product offerings to include: apparel, footwear, handbags, jewelry, swimwear, intimates and sleepwear, denim, social dresses, outwear and beauty.

About MG Icon LLC

MG Icon LLC ("MG Icon") is a joint venture owned 50% by Iconix Brand Group, Inc. and 50% by an entity controlled by Madonna and Guy Oseary. MG Icon develops and explores business initiatives in the United States and around the world including the creation and acquisition of brands as well as opportunities within the Iconix portfolio. This partnership marked Madonna's first joint venture endeavor into the branding industry.